Bob Arum, the promoter of boxer, Manny Pacquiao, under the
Top Rank company, has sued, Al Haymon's Premier Boxing
Champions. Haymon is a promoter and manager for the world's
highest paid boxer, Floyd Mayweather, among other top pugilists.
Haymon used to be a top music promoter in the entertainment
industry, responsible for many lucrative R&B and rap concerts in
the 1980s and 1990s.

Bob Arum and Manny Pacquiao

Arum is accusing Haymon of engaging in a boxing monopoly,
anti-trust violations and sabotaging other promoters and boxers,
as well as issuing payola type bribes in the sport. Recently,
Haymon launched the Premier Boxing Champions series on the NBC
network in America, allowing the public watch boxing matches for
free, features stars such as Adrien Broner and Shawn Porter.
However, another top boxing promotions company, Golden Boy, also
sued Hayon alleging the very same thing - he is running a
monopoly and violating U.S. anti-trust laws.

Floyd Mayweather and Manny
Pacquiao

In all honesty, I have been enjoying the Premier Boxing
Champions show on NBC. It is interesting and entertaining.
However, if Top Rank and Golden Boy lay out sufficient evidence
of a monopoly and anti-trust violations, with the matter
properly proven and it reaches the SEC and FTC, Haymon could
face charges and a whopping fine from the government. At the end
of the day, we all want a clean fight inside and outside the
ring.

STORY SOURCE

Al Haymon Sued by Top Rank Promotions: Latest Details and
Reaction

July 1, 2015 - Embattled Premier Boxing Champions promoter Al Haymon is
readying for another legal battle, as Top Rank Promotions filed
a lawsuit against him Wednesday. Attorneys at Kramer, Levin, Naftalis and Frankel representing
Haymon released a statement regarding the Top Rank lawsuit, (via
Wil Esco at BadLeftHook.com).

The lawsuit filed today (Wednesday) by Bob Arum and Top Rank
is entirely without merit and is a cynical attempt by boxing's
old guard to use the courts to undermine the accessibility,
credibility and exposure of boxing that the sport so desperately
needs. "The Premier Boxing Champions series makes boxing free
again, by bringing championship boxing to free TV, with a
fighter-first promise and a commitment to the fans to restore
boxing to the luster of its heyday. The continued success of
this effort will far outlast this baseless lawsuit.

Haymon has become arguably the most prominent promoter and
manager in boxing in recent years, but Bob Arum and Top Rank
Promotions are looking to put a stop to that. According to Lance Pugmire of the Los Angeles Times, Top Rank
is suing Haymon for more than $100 million in damages due to the
notion that he is attempting to create a boxing monopoly by
taking on multiple roles...

The lawsuit also claims Haymon is intentionally losing money
for now in order to gain the upper hand over other promotions.
In order to stifle legitimate promoters from competing
against PBC, Haymon has obtained exclusivity commitments from
broadcasters. Between these predatory 'payola' payments and the
expenses of promoting each televised match, Haymon and Waddell &
Reed are operating at a significant short-term loss in the
millions of dollars. This 'loss leader' strategy ... has allowed
Haymon to gain unfair advantage in the promoter market to the
severe detriment of legitimate competitors like Top Rank...

Such accusations are nothing new for Haymon, who was sued by
Golden Boy Promotions for $300 million in May due to alleged
violations of antitrust laws, according to ESPN.com's Dan
Rafael. Haymon was also accused by California Boxing Commission
Commissioner John Frierson of sabotaging other promoters by
reserving both the Forum and the Staples Center in Los Angeles
in an effort to prevent competition from holding events, per
Ivan G. Goldman of BoxingInsider.com...